What is allocation by need?
A.
pricing goods based on want rather than need
B.
giving or selling goods only to people who most need them
C.
giving or selling goods to whoever will stand in line the longest
D.
pricing goods so that even the most vulnerable members of society can afford them
I think that the it is the letter B
I agree with you.
thank you damon
The correct answer is B. allocation by need refers to giving or selling goods only to people who most need them. To determine the correct answer, we need to understand the meaning of allocation by need.
Allocation by need is an economic concept that focuses on distributing goods and resources based on the level of need or necessity. This approach aims to prioritize individuals or groups who require certain goods the most. By doing so, it ensures that limited resources are utilized efficiently and appropriately.
Option A, pricing goods based on want rather than need, is incorrect as allocation by need does not consider wants, but rather focuses on addressing basic necessities.
Option C, giving or selling goods to whoever will stand in line the longest, is incorrect as allocation by need prioritizes those who are most in need, not just those who are willing to wait the longest.
Option D, pricing goods so that even the most vulnerable members of society can afford them, is partially correct, but it does not encompass the entire concept of allocation by need. While affordability is considered, the primary determination is based on the level of need.
Therefore, the correct option is B. giving or selling goods only to people who most need them, as it accurately reflects the principle of allocation by need.